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question 6 & 7 I dont what to do next, please explain for me in detail and thank you for your time. On January 1,

question 6 & 7 I dont what to do next, please explain for me in detail and thank you for your time. image text in transcribed
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On January 1, 2021, Norwood borrows $500,000 cash from a bank by signing a five-year installment note bearing 8% interest. The note requires equal payments of $125,229 each year on December 31 Required: 1. Complete an amortization table for this installment note. 2. Prepare the joumal entries in which Norwood records the following (a) Norwood borrows $500.000 cash by signing a five-year, 8% installment note. (b) Record the first instaliment payment on December 31, 2021 (c) Record the second installment payment on December 31, 2022 Complete this question by entering your answers in the tabs below. Complete an amortization table for this installment note. (Round your intermediate calculations to tha noaract Anella Complete this question by entering your answers in the tabs below. Prepare journal entries to record the note's issuance and each of the first two payments. The following information is available for both Pulaski Company and Scott Company at the current year-end. Required: 1. Compute the debt-to-equity ratio for both companies. 2. Which company has the riskier financing structure? Complete this question by entering your answers in the tabs below. Compute the debt-to-equity ratio for both companies. The following information is available for both Pulaski Company and Scott Company at the current year-end. Required: 1. Compute the debt-to-equity ratio for both companies. 2. Which company has the riskier financing structure? Complete this question by entering your answers in the tabs below. Which company has the riskier finanding structure

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